Telemedicine and Electronic Health Record are Major Revenue Contributors for IoT Healthcare Market by 2022

With its recently published study on “IoT Healthcare Market- Global Trends & Forecast – 2016-2022”, Infoholic Research predicts that the IoT solutions will have a positive impact on healthcare services and with the government spending, the healthcare delivery will improve. Most of the world’s regions are facing a formidable challenge to manage the rapidly increasing cost of health care. Despite an overall focus on cost containment,some markets are projected to experience rapid spending growth as public and private health care systems develop. There has been the emergence of self-care where people want to care for their health via devices such as Nike Fuel band, Google Glass, and Fit bit and with proper integration of technologies, the healthcare system will become incredibly connected in the next few years. Witnessing a wide adoption of IoT solutions across regions, “IoT healthcare market is expected to grow at CAGR of 43.01% for the period of 2016-2022.”

Research Operations, Tariq Shaik, quoted- “Integration of wellness devices-consumer and regulated medical devices with the existing healthcare ecosystem will change the way healthcare business are done.”

“IoT healthcare market has huge potential in developing regions, Asia Pacific is one of the largest and high growth markets, it becomes important how healthcare organizations adopt technologies and applications to improve healthcare outcomes and reduce the overall cost of healthcare,”said- Biswo Ranjan Bal, Research Analyst.

The IoT healthcare market is divided into technologies and services. The technologies segment is again analyzed by network technologies and applications technologies. The network technologies are further segmented to short range technologies and long-range technologies which are equally vital top form a connected ecosystem of healthcare. The service market is analyzed by consulting, integration and maintenance. The solution segment contributes to a majority part of the market.

The IoT Healthcare market is analyzed by providers, payers, bio pharma and medical devices. The medical devices segment is further segmented to wellness devices-consumer and regulatory medical devices. The wellness devices- consumer holds the key to a major disruption in the healthcare industry.

The IoT Healthcare market is divided into North America, Western Europe, Asia-Pacific (excluding Japan), Central Eastern Europe (CEE), Middle East & Africa(MEA) and Latin America. North America has the largest share of the market and these countries are the early adopters of these information systems. Asia-Pacific is one of the high growth markets which has immense potential for the market. The regions are further analyzed by countries in the region which influences major spending on healthcare in the particular region.